Completing an initial mortgage loan application typically requires providing a variety of information and documents, but two essential components are:
Personal Information: This includes details such as your full name, date of birth, Social Security number, current address, and contact information. Lenders use this information to identify you and assess your eligibility for a mortgage loan.
Financial Information: This encompasses your income, employment status, assets, debts, and credit history. Lenders use this information to evaluate your financial stability, determine your ability to repay the loan, and calculate the amount you qualify to borrow.
While other documents and information may be required during the mortgage application process, personal information and financial information are typically the two essential components needed to initiate the application.